NACC Reacts to Tariff Increment With Strategic Trade Diversification Plan

NACC reacts to tariff increment by urging exporters to seize emerging opportunities in energy minerals and value-added goods amid rising US tariffs

NACC reacts to tariff increment with a message of cautious optimism, urging Nigerian exporters to pivot toward untapped global trade opportunities despite a looming 15% US tariff.

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At a roundtable in Lagos on August 20, 2025—hosted collaboratively by the Nigerian‑American Chamber of Commerce (NACC) and the Nigerian Export Promotion Council (NEPC)—top industry voices examined the impact of Washington’s updated tariff policy.

NACC President Sheriff Balogun emphasized the upside amid adversity, highlighting that “some of our products attract lower tariffs than our competitors, and this can help us grow exports”.

Indeed, the 15% levy is prompting a reassessment of export strategy.

While the tariff codifies a tough reality, government officials, such as Trade Ministry adviser Tochukwu Nwachukwu, reassured stakeholders that Nigeria will remain responsive—not reactive, focusing on strategic negotiations and broader market diversification.

Adding to the resilience narrative, NEPC announced that Nigeria’s non‑oil exports surged to $3.225 billion in the first half of 2025, a remarkable 19.6% increase from 2024.

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Analysts point to several hidden opportunities amid the tariff shock. Key natural resources like lithium, cobalt, and manganese present new export niches, while value addition in the cocoa sector—such as cocoa powder or chocolate—can unlock substantial domestic and regional demand.